Not knowing anything about how big players in the stock market work, I'm curious if these errors only go one way. Like if someone had filed that erroneous report, and then the stock went down, could they use the filing (with support from three letter actors) as evidence that the brokerage computer made an error and they are entitled to the money? Can trades be "undone" after the fact if you are powerful enough?
The London Metal Exchange reversed $12 billion of nickel trade all because it was on the wrong end of a short squeeze. Turns out the nickel contracts were backed by bags of rocks, not actual nickel.
When the LME was sued for breach of contract, the judge cited "systemic risk" as for why it's okay when they do it.
Get used to seeing those words more and more: systemic risk. Because being an overleveraged, degenerate gambler with other people's retirement money will destroy the entire system if they're actually forced to pay.
They are saying it was an error:
https://x.com/marionawfal/status/1813842783783801161
Not knowing anything about how big players in the stock market work, I'm curious if these errors only go one way. Like if someone had filed that erroneous report, and then the stock went down, could they use the filing (with support from three letter actors) as evidence that the brokerage computer made an error and they are entitled to the money? Can trades be "undone" after the fact if you are powerful enough?
The London Metal Exchange reversed $12 billion of nickel trade all because it was on the wrong end of a short squeeze. Turns out the nickel contracts were backed by bags of rocks, not actual nickel.
When the LME was sued for breach of contract, the judge cited "systemic risk" as for why it's okay when they do it.
Get used to seeing those words more and more: systemic risk. Because being an overleveraged, degenerate gambler with other people's retirement money will destroy the entire system if they're actually forced to pay.